In a clear signal that it is aiming further expansion which would require funds, Reliance Jio Infocomm, which is a wholly-owned subsidiary of Reliance Industries (RIL), on Thursday said that it will be making a rights issue offer to raise Rs 20,000 crore through 400 crore 9% non-cumulative optionally convertible preference shares (OCPS) of Rs 10 each for cash, at a premium of Rs 40 per OCPS.The company announced the decision taken by its board of directors ahead of the announcement of the parent’s earnings for the April-June quarter. In a notice to the BSE, Jio said, “The amount subscribed/paid on each OCPS shall be either redeemed at Rs 50 or converted into five equity shares of Rs 10 each at any time at the option of the company, but not later than 10 years from the date of allotment of the OCPS.”